Olivut Resources pockets C$2.2 million in private placement of shares

Non-brokered offering finances projects, general corporate purposes

By Devika Patel

Knoxville, Tenn., Dec. 22 - Olivut Resources Ltd. said it settled a C$2.2 million non-brokered private placement of stock. The deal priced for C$3 million on Dec. 15.

The company sold 1,079,200 flow-through common shares at C$1.25 apiece and 772,545 common shares at C$1.10 apiece. The prices per share are 35.87% and 19.57% premiums, respectively, to C$0.92, the Dec. 14 closing share price.

Proceeds will be used to fund the company's projects and for general corporate purposes.

Olivut is a Toronto-based diamond exploration company.

Issuer:	Olivut Resources Ltd.
Issue:	Flow-through common shares, common shares
Amount:	C$2,198,800
Warrants:	No
Agent:	Non-brokered
Pricing date:	Dec. 15
Stock symbol:	TSX Venture: OLV
Stock price:	C$0.87 at close Dec. 15
Market capitalization:	C$35.45 million
Flow-through stock
Amount:	C$1,349,000
Shares:	1,079,200
Price:	C$1.25
Common stock
Amount:	C$849,800
Shares:	772,545
Price:	C$1.10

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